Recently, the number of cryptocurrency ATMs across the globe has skyrocketed. According to recent reports, there are more than 7000 machines available in 75 countries. These ATMs host an array of digital currencies, including Dash, Lite Coin, Bitcoin Cash, Ether, and Bitcoin. Cryptocurrency ATMs have come a long way. The first time the world heard about cryptocurrency or rather Bitcoin ATM was back in 2013 when a company known as Robocoin installed an ATM in a coffee shop, allowing customers to trade cash for Bitcoin and vice versa. Today, there are more than forty companies that are responsible for manufacturing cryptocurrency ATMs.
Reports indicate that different companies install more than ten crypto ATMs in a single day. It shows that the public demand for cryptocurrency continues to grow with every day that passes. Additionally, digital asset adoption is still on track. Cryptocurrency ATMs are convenient and have become an ideal way for people to buy Bitcoin and Cryptocurrency. However, they charge fees when you purchase or sell cryptocurrency.
Cryptocurrency ATMs are not available in every store, restaurant, or petrol station, as you may think. However, locating one is quite easy. Tons of websites allow you to find the nearest crypto ATM. Additionally, the sites give you detailed and useful information associated with a specific ATM, such as the type of cryptocurrency it supports, its fees, and the transaction limit.
How Do You Purchase Coins Trough Cryptocurrency ATMs
Cryptocurrency ATMs are very easy to use. Most of them contain step by step instructions on how to buy or withdraw crypto. First, you have to select the amount of cryptocurrency you wish to purchase. Secondly, input your wallet address to initiate payment. Experts suggest scanning a QR code to minimize any errors. They also contain a virtual wallet where you can store your currency. Thirdly, pay the amount required using your credit or debit card or by depositing cash. Finally, confirm your purchase and wait for the cryptocurrency to reflect on your wallet. Some ATMs are likely to ask for identification when you buy a large number of cryptocurrencies.
Benefits of Cryptocurrency ATMs
Buying cryptocurrency through an ATM has its advantages. This method is faster compared to other platforms where you have to create an account and wait for verification. Additionally, you can purchase cryptocurrency using cash. Also, you get to buy the currencies anonymously, depending on the service provider.
CoinFlip is an American-based crypto exchange company that allows its customers to buy Bitcoin and six other cryptocurrencies using paper cash. They have a good number of cryptocurrency ATMs located all over the country. They offer 24/7 live customer service and support and, most importantly, they offer a same-day settlement. CoinFlip is only available to a few US-investors and residents.
CoinFlip is very different from other exchange companies. They do not offer trading services but instead allow you to exchange cash for crypto. Currently, CoinFlip only allows the sale of LTC and BTC, and the withdrawal fee is 3.99%. You can deposit money to the platform using a credit card or any of their Bitcoin ATMs. On matters security, CoinFlip is way above average.